NSE vide circular dated November 29, 2023 has announced Introduction of new functionalities in Penalty. The following features are developed to assist members in understanding and adhering to various compliance requirements of the Exchange:
- Expected / Indicative penalty: The Expected penalty will include the indicative penalties as per Exchange Circular ref. no. NSE/INSP/53530 dated September 02, 2022, pursuant to the Letter of Observations issued by the Exchange post November 27, 2023. The penalties mentioned are only indicative in nature and subject to revision, if any. The Relevant Authority of the Exchange shall take the final decision on the penalty actions after considering your submissions.
- Directions given by Relevant Authority for specific compliance: The specific compliances to be adhered to by Trading Member as directed by the Relevant Authority shall be displayed under this tab along with status of compliance and due date. This will assist the Trading Member to track the compliance status more effectively.
- IGRP orders / Arbitration awards: The details of IGRP orders / Arbitration awards will be displayed under this tab. The details include the IGRP / Arbitration / Appellate Arbitration ref. no., date, amount and collection details pursuant to the IGRP orders / Arbitration / Appellate awards.
- Compliance Calendar: The calendar will include compliances applicable to Trading Members for the current month and the same will be updated on a monthly basis for subsequent month. This includes submission timelines for various periodic compliances along with due date for each compliance submission.
- Know Your Penalties (KYP): The Know Your Penalties (KYP) contains those penalty provisions where the Exchange has observed maximum non-compliances committed by Trading Members. All such identified penalties are collated and explained in a concise manner in KYP so that the Trading Member can use it as a ready reckoner and take required corrective measures to avoid penalties.
